fuel

The Unfolding Crisis in Nigeria's Oil Market: A Deep Dive into Dangote's Concerns In a candid discussion that has sent ripples through Nigeria's oil sector, Aliko Dangote, a titan in the industry, has pointedly criticized the nation’s port infrastructure and the financial burdens faced by local oil marketers. He revealed a startling reality: it is now more cost-efficient for marketers to obtain refined petroleum products from offshore depots in neighboring countries, such as Togo, than to source them from the Lekki-based…

An Uneasy Calm: A Community on Edge On Wednesday, local residents awoke to an unsettling stillness, the kind of quiet that feels heavy with the weight of looming uncertainty. In this fragile moment, many are bracing themselves for the storm that may yet arrive. “We are scared the fighting will resume at any moment,” shared a resident who preferred to remain anonymous, their voice tinged with anxiety. This sentiment echoes through the neighborhood, illustrating not just fear, but a profound sense of vulnerability. Just…

The Shifting Landscape: A Call for Fuel Self-Sufficiency in Africa At the Global Commodity Insights Conference on West Africa, held in Abuja and organized by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in partnership with S&P Global, Aliko Dangote delivered a compelling message. He cautioned that shadow networks are severely undermining the establishment of local refinery infrastructure in Africa. Throughout his address, he emphasized the maritime fuel trade, particularly the activities…

In an inspiring discussion at the Global Commodity Insights Conference on West African Refined Fuel Markets, Alhaji Aliko Dangote, founder and chairman of the Dangote Group, shared groundbreaking news that is bound to reshape perceptions of Nigeria's role in the global energy market. Organized by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in collaboration with S&P Global Insights, this conference spotlighted exciting developments in Nigeria's refining capabilities.…

In recent months, various regions across Africa have experienced slight reductions in gasoline prices. This trend is particularly noticeable in places that benefit from improved supply chains, innovative government initiatives, or advancements in local refining processes. It can feel like a breath of fresh air, especially for those who have faced rising costs year after year. However, while these lower gasoline costs might seem like a boon for the economy in the short term, it's essential to understand the…

West Africa’s New Wave in Petroleum Pricing: A Strategic Initiative Nigeria has embarked on a groundbreaking partnership with S&P Global Commodity Insights to pioneer a regional pricing benchmark for refined petroleum products within West Africa. Picture this: a local petroleum market dramatically reshaped to better reflect its unique conditions rather than being tethered to distant global benchmarks. This initiative, unveiled at the West African Refined Fuel Conference held in Abuja, is not just a theoretical…

Analyzing the Competitive Pricing Strategy of Dangote Refinery The recent moves by the Dangote Refinery to cut fuel prices are not just a reaction to market dynamics; they mirror a calculated strategy reminiscent of past actions. Earlier this year, the refinery's tactics stirred a pricing war with the Nigerian National Petroleum Corporation (NNPC), effectively reshaping the country's fuel landscape. It prompts one to ask: how much influence can a single player have in such a pivotal market? Last week, the Dangote Oil…

The Bank of Ghana (BoG) has recently taken a significant step forward by disbursing $20 million to ten Bulk Oil Distribution Companies (BDCs). This initiative, part of a strategic foreign exchange (FX) forward auction, underscores the central bank’s continuous commitment to stabilizing the Ghanaian cedi and securing reliable fuel supplies in the country. As we reflect on these collective efforts, one has to wonder: how do such financial maneuvers influence our daily lives and the economy at large? Fixed Rate Auction: A…

A transformative shift is underway in Nigeria’s downstream logistics, promising to enhance distribution efficiency while significantly reducing transportation costs. This development is more than just a logistical upgrade; it represents a holistic approach towards a more sustainable and economical fuel distribution system within the country. As part of this strategic initiative, the new Compressed Natural Gas (CNG) fleet, which will be operational from August 15, 2025, has been acquired through the Dangote…

What’s Driving This At present, Dangote’s refinery operates at an impressive capacity of about 85 percent, translating to 550,000 barrels per day from a potential 650,000. This makes it stand out as one of the largest single-train refineries in the world—a title that carries considerable weight in the industry. Why does size matter? A larger operation reduces the cost per barrel, and that’s just the beginning of the benefits. Pair this with the strategic introduction of Compressed Natural Gas (CNG) trucks, which…